Rane Madras received a rectification order from the Income Tax CPC Bangalore levying an aggregate tax demand of ₹5.08 crore.
The demand includes ₹3.45 crore from a 2022 order and ₹1.63 crore in interest for TDS on a share buyback.
The company has paid ₹2.58 crore towards the TDS and will contest the order with the appropriate authority.
This disclosure is a mandatory filing under SEBI LODR regulations for the Assessment Year 2021-22.